RELATED TOPICS

AP Financial News Summary at 7:38 a.m. EST

AP Financial News Summary at 7:38 a.m. EST

AP Financial News Summary at 7:38 a.m. EST

Jan. 23, 2006

https://www.apnews.com/26da74d334b63c6837de5f876611fdef

Link copied!

Group to Buy Albertson's in $9.7B Deal

%mlink(STRY:v2268; PHOTO:; AUDIO:%)

BOISE, Idaho (AP) _ Albertson's Inc., the nation's second biggest traditional grocery store, said Monday it has agreed to sell the company for about $9.7 billion in cash and stock to an investment group including supermarket chain Supervalu Inc. and drugstore chain CVS Corp.

Nike CEO Perez Resigns, Parker Successor

%mlink(STRY:v2280; PHOTO:; AUDIO:%)

BEAVERTON, Ore. (AP) _ Nike Inc., the world's largest athletic-shoe company, on Monday said that CEO William D. Perez had resigned over differences with company founder and chairman Phil Knight and was replaced by Mark Parker, co-president of the Nike brand.

Stocks Set to Open Up on Earnings Reports

%mlink(STRY:v2213; PHOTO:; AUDIO:%)

LONDON (AP) _ Whether it's a dead-cat bounce or a genuine recovery, U.S. stock market futures pointed higher on Monday, with earnings from Bank of America Corp., American Express Co. and Ford Motor Co. set to provide a backdrop to a reporting season that's been less than stellar so far.

LONDON (AP) _ Oil prices pulled back Monday in a corrective move after Saudi Oil Minister Ali Naimi said there is enough supply to meet demand.

Plant Closings, Job Cuts Loom at Ford

%mlink(STRY:v2126; PHOTO:MICO102-0122061145; AUDIO:%)

DETROIT (AP) _ Ford Motor Co. employees are bracing for thousands of jobs cuts in North America as the company embarks on a new restructuring plan.

Philips 4Q Earnings Slump on Charge

%mlink(STRY:v2273; PHOTO:; AUDIO:%)

AMSTERDAM, Netherlands (AP) _ Royal Philips Electronics NV said Monday its earnings fell 33 percent in the fourth quarter to 332 million euros ($1.2 million) from 498 million euros a year earlier, mostly due to an impairment charge.

TOKYO (AP) _ Japan has ordered inspections of all U.S. beef imported over the past month, calling for a full explanation of an American violation of the countries' beef pact.

Iconic Fed Chief Prepares His Departure

%mlink(STRY:v2238; PHOTO:WX101-0821872000; AUDIO:%)

WASHINGTON (AP) _ America has embraced Alan Greenspan with irrational exuberance. The slight, aging economist with the supersize glasses and claymation facial expressions has inspired a symphonic overture, a country music paean and a red-hot gallery exhibition of ``Alan as Art.'' Queen Elizabeth awarded him honorary knighthood.